Why You Should Fix Up Your Car Instead of Selling It

So, your car has broken down and you’re wondering whether it’s worth fixing up or you should just sell it. Well, the cost of repairing a car can be high for some people. And, what can make you more tempted to sell your car is if this is not the first time it has broken down. Nobody wants to keep pouring money into a vehicle that is aging and likely to demand more. But, there are cases where it’s wise to fix up a car instead of selling it. Here are some of the reasons to fix up a car instead of selling it. 

Repairing the Car is Less Expensive than Purchasing a New One

Perhaps, you can’t afford the money to buy a new car at the moment. This can be due to budgetary or even other reasons. And the cost of fixing up the broken down car can be less than that of purchasing a new one. 

Some repairs like a failed transmission or blown motor may cost you between $3,000 and $7,000 when you replace them at your local dealership. However, this cost is still less than that of purchasing a new car. 

You Need Your Current Car Longer 

Some people have an emotional attachment to their cars. Maybe you were given the car by a special person. It could also be your first car or the car you always dreamed of. If you’re such a person, you may want to use your current car a little longer. You might also intend to purchase a new car in some years. So, if the current car breaks down unexpectedly, you may consider repairing it. 

Fixing up your car will enable you to continue being on the road without rushing to buy a new one. Thus, you will have time to accumulate your savings and get the required amount to buy a new one. 

Other reasons why you should fix up your car instead of selling it may include insurance issues. Maybe registration and insurance fee for a new car will be higher. You might also not want to lose the value of the money you spend on a new car. That’s because a new car loses its value at a rate of around 22% every year. Your current car has taken this hit already. 

Nevertheless, the decision to fix up or sell a car is personal. Therefore, weigh the two options carefully to make a wise decision. 

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